Axa reduced its position in shares of JPMorgan Chase & Co. (NYSE:JPM) by 24.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,599,418 shares of the financial services provider’s stock after selling 511,060 shares during the period. Axa’s holdings in JPMorgan Chase & Co. were worth $94,718,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in JPMorgan Chase & Co. during the fourth quarter worth approximately $2,137,988,000. Primecap Management Co. CA raised its stake in shares of JPMorgan Chase & Co. by 43.5% in the first quarter. Primecap Management Co. CA now owns 20,518,581 shares of the financial services provider’s stock valued at $1,215,110,000 after buying an additional 6,218,550 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of JPMorgan Chase & Co. by 15.6% in the first quarter. Franklin Resources Inc. now owns 42,060,882 shares of the financial services provider’s stock valued at $2,490,856,000 after buying an additional 5,685,864 shares during the last quarter. Agran Libbie raised its stake in shares of JPMorgan Chase & Co. by 9,936.4% in the fourth quarter. Agran Libbie now owns 5,375,303 shares of the financial services provider’s stock valued at $3,549,000 after buying an additional 5,321,745 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in shares of JPMorgan Chase & Co. by 86.4% in the first quarter. 1832 Asset Management L.P. now owns 3,282,117 shares of the financial services provider’s stock valued at $325,419,000 after buying an additional 1,521,380 shares during the last quarter.
JPMorgan Chase & Co. (NYSE:JPM) traded up 0.41% on Tuesday, hitting $64.13. The stock had a trading volume of 8,067,766 shares. JPMorgan Chase & Co. has a 52-week low of $50.07 and a 52-week high of $69.45. The firm has a market cap of $233.16 billion and a price-to-earnings ratio of 10.87. The company’s 50 day moving average price is $62.55 and its 200 day moving average price is $60.69.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Wednesday, July 6th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, July 1st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.99%. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $0.44.
Several brokerages recently commented on JPM. Argus restated a “buy” rating and set a $72.00 target price on shares of JPMorgan Chase & Co. in a research report on Monday, July 18th. BMO Capital Markets restated a “buy” rating and set a $74.00 target price (down previously from $77.00) on shares of JPMorgan Chase & Co. in a research report on Sunday, July 17th. Jefferies Group restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Sunday, July 17th. Bank of America Corp. restated a “buy” rating on shares of JPMorgan Chase & Co. in a research report on Sunday, July 17th. Finally, Oppenheimer Holdings Inc. restated a “hold” rating on shares of JPMorgan Chase & Co. in a research report on Sunday, July 17th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $70.93.
In other JPMorgan Chase & Co. news, COO Matthew E. Zames sold 3,991 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $63.91, for a total value of $255,064.81. Following the completion of the sale, the chief operating officer now directly owns 282,287 shares in the company, valued at $18,040,962.17. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ashley Bacon sold 15,521 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $63.97, for a total transaction of $992,878.37. Following the completion of the sale, the insider now owns 14,938 shares of the company’s stock, valued at $955,583.86. The disclosure for this sale can be found here.
JPMorgan Chase & Co is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking.
